Petrol, Diesel Rates In These Five Cities To Be Revised Daily
The scheme will be introduced in 5 cities on a pilot basis Daily revision in rates will remove the big fortnightly changes in prices Petrol and diesel rates in New Delhi will still be decided fortnightly
Ending the practice of fortnightly revision in rates, petrol and diesel prices will be revised daily in five cities starting today. As an effort to sync with the international rates, the move is much like it happens in most advanced markets. "Indian Oil Corporation Ltd is implementing daily revision in prices of petrol and diesel, w.e.f 01.05.2017, on pilot basis, in the cities of Udaipur, Jamshedpur, Chandigarh, Vizag and Puducherry District," the country's largest fuel retailer said in a statement. Daily revision in rates will remove the big leaps in rates that need to be effected at the end of the fortnight.
"The movement of prices in the international oil market and rupee-dollar exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes," IOC added.
As of today, the petrol and diesel rates are as follows:
